Masterplan to launch $192 million credit facility Thursday

By Sara Rosenberg

New York, Feb. 14 - Masterplan Inc. is scheduled to hold a bank meeting on Thursday to launch its proposed $192 million credit facility, according to a market source.

Bear Stearns is the lead bank on the deal.

The facility consists of a $20 million revolver, a $130 million first-lien term loan and a $42 million second-lien term loan, the source said, adding that price talk is not yet available.

Proceeds will be used to help fund Berkshire Partners LLC's acquisition of Masterplan and ReMedPar, Inc. from Three Cities Research and Camden Partners Holdings.

Berkshire is contributing $152.5 million of equity toward the purchase, while rollover and management equity accounts for $17.5 million.

Masterplan is a Chatsworth, Calif., provider of service, maintenance and asset management for medical equipment to hospitals, integrated health systems and patient facilities. ReMedPar is a Goodlettsville, Tenn., provider of sourced and refurbished medical equipment parts.

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